US military strikes over 80 Iranian targets as ceasefire collapses
"US military struck Iran overnight, hitting more than 80 targets, warning it would hold Iran accountable over further violations of the deal after strikes on tankers crossing the straight of Hormuz yesterday. Iranian army says it's targeted US bases in Bahrain. Also, Kuwait got hit too. Donald came out and says the US Iran ceasefire is over. He said I don't want to deal with them anymore. They're scum. They're sick people. They're vicious."
About this episode
A cryptocurrency and markets analyst discusses the collapsing US-Iran ceasefire and its impact on global markets in this daily market update. The US military struck over 80 Iranian targets overnight after Iran attacked tankers in the Strait of Hormuz, prompting Iranian retaliation against US bases in Bahrain and Kuwait. President Trump declared the ceasefire over with harsh rhetoric, effectively closing the critical oil shipping route and sending crude prices from $70 to $78. The analyst warns this raises significant market risks, especially as Ukraine simultaneously targets Russian oil infrastructure. Equity markets crashed on the news with the NASDAQ opening down and the Korean stock market entering bear territory with a 23% decline from recent highs. The VIX volatility index spiked to 18.8, though not yet at panic levels that typically signal buying opportunities. Bitcoin sold off to $61,600 but held support at a falling wedge pattern, suggesting potential for a higher low formation. Morgan Stanley issued a nuanced warning that the AI memory trade is transitioning from explosive growth to normal cycle returns, though not turning bearish overall. The analyst discusses SpaceX receiving $800-900 price targets ahead of its IPO but cautions that typical IPOs draw down 50-70% in the first year. On the cryptocurrency front, Zcash announced progress toward mathematically proving no counterfeiting bugs exist in its shielded pools, potentially removing a major security overhang. Solana hit new all-time highs in transaction activity with five times more transactions than Ethereum despite trading at $80. The analyst notes most meme coins on Robin Hood chain gained 5-10x in recent days but warns this pattern typically ends with dumps and liquidity exodus within weeks.
Key takeaways
- US military struck over 80 Iranian targets after Strait of Hormuz tanker attacks, with Iran retaliating against US bases in Bahrain and Kuwait as Trump declares ceasefire over
- Oil prices surged from $70 to $78 as Strait of Hormuz effectively closes again, raising global supply risks amid simultaneous Ukrainian strikes on Russian energy infrastructure
- Equity markets crashed with Korean stocks down 23% entering bear territory and NASDAQ facing significant red open as VIX volatility index spiked to 18.8
- Morgan Stanley warns AI memory trade transitioning from explosive first phase to normal cycle returns, though maintains bullish long-term outlook on artificial intelligence investments
- Zcash developing mathematical proof that no counterfeiting bugs exist in shielded pools, potentially removing major security overhang that has plagued the privacy cryptocurrency
- Solana achieved new all-time high in transaction activity with five times more transactions than Ethereum despite trading at $80, showing disconnect between usage and price
- Bitcoin held support at $61,600 falling wedge pattern suggesting potential higher low formation, while SpaceX receives $800-900 price targets ahead of IPO despite typical 50-70% first-year drawdowns